JERMAN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JERMAN
Largest movements
- Receivables within one year -€45,000
down €45,000 (-50.6%), from €89,000 to €44,000
- Cash +€41,317
up €41,317 (+239.5%), from €17,250 to €58,567
mainly Debts after one year (+€53,822) and Receivables within one year (+€45,000)
- Tangible fixed assets -€33,705
down €33,705 (-5.6%), from €603,625 to €569,920
of which Land and buildings: -€33,165
- Financial fixed assets -€25,000
no longer reported in 2025 (was €25,000)
- Deferred charges and accrued income +€9,000
new in 2025: €9,000
- Other debts -€79,638
down €79,638 (-98.6%), from €80,733 to €1,095
- Debts after one year +€53,822
up €53,822 (+15.4%), from €348,578 to €402,400
of which Other amounts payable: +€80,628
- Tax, wage and social debts -€41,549
down €41,549 (-82.0%), from €50,687 to €9,138
of which Taxes: -€45,049
- Profit (loss) carried forward +€13,526
up €13,526 (+19.8%), from €68,188 to €81,714
- Depreciation -€4,448
down €4,448 (-11.7%), from €38,153 to €33,705
- Gross operating margin +€3,787
up €3,787 (+6.3%), from €60,541 to €64,328
- Other operating charges +€2,751
up €2,751 (+716.4%), from €384 to €3,135
- Taxes +€1,140
up €1,140 (+25.3%), from €4,498 to €5,638
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €734,875 | €681,487 | -€53,388 | -7.3% |
| Fixed assets | 21/28 | €628,625 | €569,920 | -€58,705 | -9.3% |
| Tangible fixed assets | 22/27 | €603,625 | €569,920 | -€33,705 | -5.6% |
| Land and buildings | 22 | €601,756 | €568,591 | -€33,165 | -5.5% |
| Furniture and vehicles | 24 | €1,869 | €1,329 | -€540 | -28.9% |
| Financial fixed assets | 28 | €25,000 | - | -€25,000 | |
| Current assets | 29/58 | €106,250 | €111,567 | +€5,317 | +5.0% |
| Amounts receivable within one year | 40/41 | €89,000 | €44,000 | -€45,000 | -50.6% |
| Other amounts receivable | 41 | €89,000 | €44,000 | -€45,000 | -50.6% |
| Cash at bank and in hand | 54/58 | €17,250 | €58,567 | +€41,317 | +239.5% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €734,875 | €681,487 | -€53,388 | -7.3% |
| Equity | 10/15 | €225,501 | €239,028 | +€13,527 | +6.0% |
| Contributions | 10/11 | €136,341 | €136,342 | +€1 | 0.0% |
| Capital | 10 | €136,341 | €136,342 | +€1 | 0.0% |
| Issued capital | 100 | €136,341 | €136,342 | +€1 | 0.0% |
| Reserves | 13 | €20,972 | €20,972 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,634 | €13,634 | = | 0.0% |
| Legal reserve | 130 | €13,634 | €13,634 | = | 0.0% |
| Distributable reserves | 133 | €7,338 | €7,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,188 | €81,714 | +€13,526 | +19.8% |
| Amounts payable | 17/49 | €509,374 | €442,459 | -€66,915 | -13.1% |
| Amounts payable after more than one year | 17 | €348,578 | €402,400 | +€53,822 | +15.4% |
| Financial debts | 170/4 | €348,578 | €321,772 | -€26,806 | -7.7% |
| Other amounts payable | 178/9 | - | €80,628 | +€80,628 | |
| Amounts payable within one year | 42/48 | €160,796 | €40,059 | -€120,737 | -75.1% |
| Current portion of amounts payable after more than one year | 42 | €26,401 | €26,806 | +€405 | +1.5% |
| Trade debts | 44 | €2,975 | €3,020 | +€45 | +1.5% |
| Suppliers | 440/4 | €2,975 | €3,020 | +€45 | +1.5% |
| Taxes, remuneration and social security | 45 | €50,687 | €9,138 | -€41,549 | -82.0% |
| Taxes | 450/3 | €50,687 | €5,638 | -€45,049 | -88.9% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €80,733 | €1,095 | -€79,638 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,153 | €33,705 | -€4,448 | -11.7% |
| Other operating charges | 640/8 | €384 | €3,135 | +€2,751 | +716.4% |
| Gross operating margin | 9900 | €60,541 | €64,328 | +€3,787 | +6.3% |
| Operating profit (loss) | 9901 | €22,004 | €27,488 | +€5,484 | +24.9% |
| Financial charges | 65/66B | €8,476 | €8,324 | -€152 | -1.8% |
| Recurring financial charges | 65 | €8,476 | €8,324 | -€152 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €13,528 | €19,164 | +€5,636 | +41.7% |
| Income taxes | 67/77 | €4,498 | €5,638 | +€1,140 | +25.3% |
| Profit (loss) for the period | 9904 | €9,030 | €13,526 | +€4,496 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,030 | €13,526 | +€4,496 | +49.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.